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Thai energy giant PTT increases renewable target, eyes EV venture, Auto News, ET Auto

Thai energy giant PTT increases renewable target, eyes EV venture, Auto News, ET Auto

by admin
August 17, 2021
in Technology
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PTT also targets 9 million tonnes of liquefied natural gas per year and reach 8 GW of electricity from conventional sources by 2030. It plans to have at least 30% of net income from new energy and business sources like EV, life science and logistics by 2030, Auttapol said.
PTT additionally targets 9 million tonnes of liquefied pure gasoline per 12 months and attain 8 GW of electrical energy from typical sources by 2030. It plans to have at the least 30% of web revenue from new vitality and enterprise sources like EV, life science and logistics by 2030, Auttapol stated.

BANGKOK: Thailand’s state-owned PTT Pcl is setting its sights on a future in electrical autos (EV) and extra renewable energy, its prime government stated on Tuesday.

“Now we have a brand new imaginative and prescient,” Auttapol Rerkpiboon stated, laying out plans for development and rising its renewable energy goal to 12 gigawatts (GW) by 2030, from 8 GW beforehand.

“Power has arrived at some extent of change, shifting extra in the direction of renewables, and fossil fuels are contributing to local weather change – its time we alter our imaginative and prescient.”

PTT additionally targets 9 million tonnes of liquefied pure gasoline per 12 months and attain 8 GW of electrical energy from typical sources by 2030. It plans to have at the least 30% of web revenue from new vitality and enterprise sources like EV, life science and logistics by 2030, Auttapol stated.

In Could it introduced a partnership https://www.reuters.com/article/foxconn-ptt-electric-idUSL3N2NI0LY with Taiwan’s Foxconn on EV manufacturing.

PTT plans to speculate $1 billion to $2 billion over the following 5 to 6 years in a facility to supply good chassis for EVs, stated senior government for innovation, Noppadol Pinsupa.

It might change into a regional export centre, he added, constructing on Thailand’s place as Asia’s fourth-largest autos meeting and export hub. Thailand is a manufacturing base for prime carmakers, resembling Toyota and Honda.

“The manufacturing unit will have the ability to produce an EV and the good chassis, the important thing know-how in an EV that manages electrical energy,” CEO Auttapol stated.

“Auto manufacturers who haven’t developed this could order it from us.”

The corporate this 12 months has additionally shaped joint ventures in plant-based meats, prescribed drugs and cloud computing to spice up new enterprise streams.

PTT’s subsidiaries have invested , largely abroad, in chemical substances, renewable energy, biopolymers.

“There’ll proceed to be investments at residence and overseas,” Auttapol stated, including cashflow was ample, with room to borrow extra.

Additionally Learn:

Hydrogen is the newest buzz for assembly the world’s vitality wants. Being the cleanest type of vitality, it may be produced from quite a lot of assets, resembling pure gasoline, biomass, and renewable energy like photo voltaic and wind.





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Tags: AutoEnergyeyesgiantincreasesNewsPTTRENEWABLEtargetThaiventure

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